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MarketScreener Homepage  >  Equities  >  Bolsa de valores de Sao Paulo  >  Vale    VALE3   BRVALEACNOR0

VALE

(VALE3)
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Brazil Announces Criminal Charges Against 7 Vale Employees in Dam Collapse--Update

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09/20/2019 | 10:20am EDT

By Luciana Magalhaes and Samantha Pearson

BELO HORIZONTE, Brazil -- Brazilian police announced criminal charges against Vale SA and its German safety auditor, TÜV SÜD, over the miner's dam collapse in January, the world's most deadly disaster of its kind in more than half a century.

In the first charges following the tragedy, police formally accused seven individuals from Vale and six employees from TÜV SÜD, including a director of the certifications group in Germany.

The accused from Vale were all technical workers, managers and engineers; none of the company's directors were named.

Vale said in an email that it won't comment until after studying the police report, adding that the company and its executives will continue to contribute to the investigation and will respond to the accusations in due time.

A spokesman for TÜV SÜD had no immediate comment.

Under Brazilian law, police can only formally accuse suspects, while it is up to prosecutors to file the charges before a judge.

The chief police investigator, Luiz Augusto Pessoa Nogueira, said the individuals stand accused of the crimes of false representation. Police allege that the certificates produced by TÜV SÜD to attest to the stability of Vale's fateful dam were issued fraudulently, and then used by Vale to mislead Brazil's authorities over the structure's safety.

The crime of false representation can carry a prison sentence of up to six years in Brazil when related to some cases of environmental damage.

The criminal allegations come almost eight months after Vale's mine-waste dam collapsed in the town of Brumadinho, killing 270 people.

--Alistair MacDonald in London contributed to this article.

Write to Luciana Magalhaes at Luciana.Magalhaes@wsj.com and Samantha Pearson at samantha.pearson@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
EURO / BRAZILIAN REAL (EUR/BRL) -0.05% 4.5396 Delayed Quote.3.70%
PEARSON PLC 0.30% 676.2 Delayed Quote.-28.15%
SYNEOS HEALTH, INC. 0.17% 54.47 Delayed Quote.38.42%
VALE 0.19% 47.3 End-of-day quote.-7.43%
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Financials (USD)
Sales 2019 38 137 M
EBIT 2019 12 541 M
Net income 2019 4 343 M
Debt 2019 6 447 M
Yield 2019 -
P/E ratio 2019 12,5x
P/E ratio 2020 10,2x
EV / Sales2019 1,73x
EV / Sales2020 1,57x
Capitalization 59 459 M
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Technical analysis trends VALE
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TrendsNeutralNeutralNeutral
Income Statement Evolution
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Mean consensus BUY
Number of Analysts 10
Average target price 15,28  $
Last Close Price 11,59  $
Spread / Highest target 64,1%
Spread / Average Target 31,8%
Spread / Lowest Target -37,5%
EPS Revisions
Managers
NameTitle
Eduardo Bartolomeo Chief Executive Officer
José Maurício Pereira Coelho Chairman
Luciano Siani Pires Chief Financial Officer
Oscar Augusto de Camargo Filho Director
Dan Antonio Marinho Conrado Director
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